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HVACvsHWAYETF Comparison

ETF 1

HVAC

AdvisorShares HVAC and Industrials ETF

This fund is part of

Uncategorized Equities

+0.6%

Full HVAC fund page

VS

ETF 2

HWAY

Themes US Infrastructure ETF

This fund is part of

Infrastructure

-0.27%

Full HWAY fund page

AdvisorShares HVAC and Industrials ETF (HVAC) belongs to the Uncategorized Equities segment. Themes US Infrastructure ETF (HWAY) is part of the Infrastructure segment. HVAC's top 3 sector exposures are Industrials, Information Technology and Consumer Discretionary. In contrast, HWAY's top sector exposures are Industrials, Materials and Consumer Discretionary. HVAC is more expensive with a Total Expense Ratio (TER) of 0.89%, versus 0.29% for HWAY. HVAC is up 28.89% year-to-date (YTD) with +$4M in YTD flows. HWAY performs worse with 18.88% YTD performance, and +$689K in YTD flows. Run a side-by-side ETF comparison of HVAC and HWAY below, and assess how they stack up in performance, liquidity, risk, exposure, holdings, and more, helping you select the best ETF for your investments.

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HVAC vs HWAY performance and flow charts

Performance

Cumulative Flows

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Daily, global ETF data for advanced analysis or integration into apps (API), from our partner Trackinsight.

Data Services

Historic performance and flows

Data as of 04/24/2026

		1M	3M	YTD	1Y	3Y	5Y
Perf.	HVAC HWAY	+13.83%+10.62%	+16.34%+10.15%	+28.89%+18.88%	+77.57%+50.86%	n/an/a	n/an/a
Flows	HVAC HWAY	+$326K-	+$4M+$359K	+$4M+$689K	+$8M+$1M	--	--

Volatility and drawdown

		3M	1Y	3Y	5Y
Volatility	HVAC HWAY	+35.13%+24.50%	+25.80%+18.97%	n/an/a	n/an/a
Max drawdown	HVAC HWAY	-14.84%-12.66%	-14.84%-12.66%	n/an/a	n/an/a
Max drawdown duration	HVAC HWAY	44d59d	44d59d	n/an/a	n/an/a

Trading data

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	HVAC	HWAY
Last sale 4/27/2026 at 1:30 PM	$40.03	$36.97
Previous close 04/24/2026	$39.96	$36.78
Consolidated volume 04/24/2026
Average volume 30 days
Average discount or premium 30 days
Average Bid/Ask spread 30 days

Replication quality

Data as of March 31, 2026

1-year trailing difference

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HVAC

is actively managed and doesn’t replicate an index

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	HVAC	HWAY
Tracking error
Tracking difference
1 year cumulative return difference
Best
Worst
Daily return difference
Average
Worst

Main metrics

Last update 4/27/2026 at 1:30 PM

Live

Closed

	HVAC	HWAY
Last price	$40.03	$36.97
1D performance	+0.18%	+0.51%
AuM	$9.78 M	$2.94 M
E/R	0.89%	0.29%

Characteristics

	HVAC	HWAY
Management strategy	Active	Passive
Provider	AdvisorShares	Themes Management Company
Benchmark	-	Solactive United States Infrastructure Index
N° of holdings	24	93
Asset class	-	-
Trailing 12m distribution yield	Join	Join
Inception date	February 3, 2025	September 12, 2024
ESG	No	No

More HVAC data on Trackinsight

More HWAY data on Trackinsight

Exposure

Countries

HVAC

USA

90.73%

Other

9.27%

HWAY

USA

95.9%

Other

4.1%

Sectors

HVAC

Industrials

66.74%

Information Techn.

13.03%

Other

20.23%

HWAY

Industrials

77.46%

Materials

17.56%

Other

4.98%

Diversification

HVAC

Total weight of top 15 holdings out of 15

64.51%

HWAY

Total weight of top 15 holdings out of 15

58.66%

Top 15 holdings

Data as of March 31, 2026

HVAC

COMFORT SYSTEMS USA

5.87%

BWX TECHNOLOGIES INC

5.09%

JABIL CIRCUIT

4.99%

FLOWSERVE

4.83%

US36828A1016

4.64%

AMPHENOL

4.49%

VERTIV HOLDINGS

4.43%

FLUOR

4.19%

STERLING INFRASTRUCTURE INC

3.96%

AMETEK

3.85%

PARKER HANNIFIN

3.81%

WILLDAN GROUP

3.80%

CURTISS WRIGHT

3.57%

BELDEN

3.55%

DOVER

3.44%

HWAY

CATERPILLAR

5.75%

DEERE

5.25%

PARKER HANNIFIN

4.96%

QUANTA SERVICES

4.91%

CSX

4.67%

UNION PACIFIC U

4.45%

NORFOLK SOUTHERN

4.14%

EMERSON ELECTRIC

4.06%

CRH PLC

3.74%

FASTENAL

3.26%

UNITED RENTALS

2.91%

WW GRAINGER

2.90%

COMFORT SYSTEMS USA

2.79%

WABTEC

2.54%

NUCOR

2.33%

Frequently asked questions about HVAC and HWAY

How have the HVAC and HWAY ETFs performed in 2026?

As of April 24, 2026, HVAC is up 28.89% year-to-date (YTD), while HWAY has returned 18.88%. That puts HVAC better performer ahead so far this year.

Which ETF is attracting more investor money: HVAC or HWAY?

Year-to-date, the HVAC ETF saw +$4M in flows, compared to +$689K for HWAY.

Which ETF is more volatile: HVAC or HWAY?

Over the past year, HVAC had a volatility of 25.8%, while HWAY experienced 18.97%.

Which ETF is bigger: HVAC or HWAY?

As of April 24, 2026, HVAC holds $9.78 M in assets under management (AUM), while HWAY manages $2.94 M.

What sectors do the HVAC and HWAY ETFs invest in?

HVAC leans toward sectors like Industrials and Information Technology. Meanwhile, HWAY focuses on Industrials and Materials.

What are the top holdings of the HVAC ETF and HWAY ETF?

HVAC top holdings include COMFORT SYSTEMS USA, BWX TECHNOLOGIES INC and JABIL CIRCUIT. HWAY holds in its top three: CATERPILLAR, DEERE and PARKER HANNIFIN.

Which ETF is more diversified: HVAC or HWAY?

HVAC holds 25 securities with 64.51% of its assets in the top 15. HWAY has 98 securities and a top 15 weight of 58.66%.

The ETF Underdogs, Part 7: High Asset, Low Obsolescence (HALO)

March 13, 2026

HVAC

There’s an ETF for That? Blue Collar Trades

September 30, 2025

HVAC

HVACvsHWAYETF Comparison

AdvisorShares HVAC and Industrials ETF

Themes US Infrastructure ETF

HVAC vs HWAY performance and flow charts

Performance

Cumulative Flows

Get all the metrics on this page, and more, through a reliable ETF data feed

Countries

Sectors

Diversification

Top 15 holdings

How have the HVAC and HWAY ETFs performed in 2026?

As of April 24, 2026, HVAC is up 28.89% year-to-date (YTD), while HWAY has returned 18.88%. That puts HVAC better performer ahead so far this year.

Which ETF is attracting more investor money: HVAC or HWAY?

Year-to-date, the HVAC ETF saw +$4M in flows, compared to +$689K for HWAY.

Which ETF is more volatile: HVAC or HWAY?

Over the past year, HVAC had a volatility of 25.8%, while HWAY experienced 18.97%.

Which ETF is bigger: HVAC or HWAY?

As of April 24, 2026, HVAC holds $9.78 M in assets under management (AUM), while HWAY manages $2.94 M.

What sectors do the HVAC and HWAY ETFs invest in?

HVAC leans toward sectors like Industrials and Information Technology. Meanwhile, HWAY focuses on Industrials and Materials.

What are the top holdings of the HVAC ETF and HWAY ETF?

HVAC top holdings include COMFORT SYSTEMS USA, BWX TECHNOLOGIES INC and JABIL CIRCUIT. HWAY holds in its top three: CATERPILLAR, DEERE and PARKER HANNIFIN.

Which ETF is more diversified: HVAC or HWAY?

HVAC holds 25 securities with 64.51% of its assets in the top 15. HWAY has 98 securities and a top 15 weight of 58.66%.

The ETF Underdogs, Part 7: High Asset, Low Obsolescence (HALO)

There’s an ETF for That? Blue Collar Trades

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